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20130106
20130106
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CNNW 4
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Search Results 0 to 14 of about 15 (some duplicates have been removed)
the republicans together and show leadership and agree if the debt ceiling needs to be raised, the issue has to be addressed. >> no serious people who have talked about the damage that would be inflicted on our country were the debt ceiling to not be raised, not only on our country, but the global economy. yet, as far as political tactics, the president saying,im not going to debate this. is that the right way for this president, as he gets set to kick off term number 2, to engage his colleagues on the other side of the aisle? >> you certainly want the president to be open. i think he is open to hearing all sides, but this is the thing that really gets to me. i think this is a shell game being played with the american people. i do not like it. i think that many americans do not. this is really about austerity, american style. in this budget package, we have more than $4 trillion that have been added to the federal deficit. so what are we really talking about here? nascar gets money. corporate headquarters are going to be built, hollywood gets some money. now if banks and businesses are too b
for by issuing bonds. the debt ceiling law was given the u.s. treasury the flexibility to borrow money. it had nothing to do with spending control or debt control. it was a technicality. most functioning countries don't have any such thing because they understand that if the government spends the money. it has to pay the bills. republicans seem to think that the debt sealing is a good tool to limit how much the government spends, the current debt ceiling was hit on december 31st, but like last time, the u.s. treasury is using extraordinary measures to ghet get it through and sometime late february, early march, they might. if congress doesn't act by then, the government risks not being able to pay some bills. if that's not enough. by march 1st, we could be heading off the sequester cliff. that's because the fiscal cliff deal that passed last week put off what to do with government spending for two months. blanket cuts are still mandated by law to take effect unless both parties can agree to more targeted cuts. now republicans will target entitlement. democrats will stand in their way, the gop
annual deficits and increase in the national debt i wouldn't want to talk about the issue either. since the debt ceiling passed 16 months ago. the day after it passed we got a downgrade from s&p . the super committee that chris voted for fell apart like we thought it would . the only scheduled cuts to take place. we suspended them in the fiscal cliff deal. we have yet to cut one dime and now it is time to do it again. stow this is, we have to stop the madness. this is the 18 year old kid on a credit card and instead of cut tupping and putting them on a budget, barak obama said give us another one and harry reid you have to - on >> john: would you support the debt ceiling. >> i don't support not dealing with the program. this whole, the way this town works and the fiscal cliff deal, the only winners were washington, they got more money and the folk necessary ohio lost rev snaul business owners had money taken from them. politicians in washington win. 10 or 7 of the 10 wealthiest counties are in the dc area . mr. van hollen res one of those areas it is about time to say stop the madness a
, and we know these three issues are coming up, the sequester, the debt ceiling and the continuing resolution to operate the government. why not sit down and not wait until the last minute to get these matters resolved? look, the biggest problem confronting the country is not taxes, it's spending. we don't have this problem because we tax too little. we have it because we spend too much. we now have a $16.4 trillion national debt, as big as our economy. that alone makes us look a lot like greece. this administration has driven spending from 21% of our economy up to almost 25% of our economy. we've got to stop using the credit card, and any opportunity we have to engage the other side in a discussion about quitting the spending spree, we're going to engage in. >> and the question is, how do you follow through on your strategy, and, you know, a lot of your allies are worried about that prospect. "the wall street journal" editorial page said "the political result would be far worse if republicans start this fight only to cave in the end. you can't take a hostage you aren't prepared to
the federal debt ceiling. in his weekly address, he said he will not compromise on the issues. >> if congress refuses to give the united states the ability to pay its bills online interesting consequences for the entire global economy could be catastrophic. last time congress threatened this course of action, our entire economy suffered for it. our families and our businesses cannot afford that dangerous game again. >> the nation's credit rating was downgraded the last time lawmakers threatened inaction on the debt ceiling in 2011. >>> a whale of a price for a high quality tuna. a bluefin tuna was sold for the egive lenl of $1.7 million in auction in tokyo. the major of the sushi chain was the buyer. he said although the fish was of the highest quality and color, he was surprised at that high purchase price. the fish has already been shipped to the sushi chain where a few lucky customers got a taste. no word on whether it was worth the price. >> strong swimmers proved today that it is possible to escape from alcatraz. today was the sixth annual alcatraz winter swim. people of all ages braved
leader nancy pelosi says cutting spending and raising the debt ceiling are two separate issues. >> i wish the president would lead us in this discussion rather than putting himself in a position of having to be dragged kicking and screaming to the table to discuss the single biggest issue confronting our future. until we adjust the entitlements so that they meet the demographics of our country, we can't ever solve this problem. >> if you say to somebody, shall we cut spending in order to reduce -- to raise the debt ceiling, it sounds almost logical, but the two are completely separate. the debt ceiling is about spending that has already occurred. you're going to say, i'm not going to pay my bills unless you stop buying stuff, well, then, stop buying stuff so you don't have future bills. but right now we have to pay the bills that have been incurred. >> joining me now, contributing editor for "newsweek" and the daily beast eleanor. and david o'sullivan. what is your reaction to what you just heard from senate leader mitch mcconnell and republican leader nancy pelosi. is there any common gr
and opportunity. >> the next big issue congress is looking at is raising the debt ceiling. the president says he does not want a fight over that but we heard mitch mcconnell on the first day of the 113th congress say the president needs to show up for this and that spending is our priority at this point so it looks like the division continues. >> it does. i mean i think the fiscal cliff teal that we saw president obama said he wanted a balanced approach. to me it was way weighted in favor of tax increases and very little in terms of real spending cuts so if he is going to be true to his word about wanting a balanced approach the debt ceiling is a perfect example. i'm interested in spending cuts just in the aggregate but i also think we need reform the spending process whether that is through a balanced budget amendment or some other mechanism so we are not having these perpetual crises. >> the senate has not passed a budget in three years. how will you convey that message to majority leader harry reid. >> it is tough to convey messages to him from what i have seen. i embraced reform such as no b
of michigan now head of the business roundtable said we ought to project debt ceilings for the next four or five years and not fight over them every time they come up and newt gingrich said it was a debt loser for the republicans to choose this as an issue. i'm saying the president should not have one of these last-minute showdowns over the debt ceiling, but we should speak in honest and i think complete terms about dealing with this deficit. it truly is a challenge we haven't faced as much as we should. >> so taking the president out of it, do you think that you could agree to spending cuts, provided you were amenable to whatever the cuts were, in order to get the debt ceiling raised? >> i can tell you that sounds like a bargain, and it sounds like a deadline that i don't want to see. what i'd rather see is a bipartisan approach starting soon, as soon as we return, between democrats, republicans and the house and the senate, talking about where we go, for example in, tax reform. there's money to be saved in tax reform. there's money to be saved in other areas. debbie stabna, head of the
in the national debt i probably wouldn't want to talk about the issue either. let's look at the facts. since the debt ceiling agreement passed 16 months ago the day after it passed we got a downgrade from s&p. a week after the market dropped 1300 points. the supercommittee which chris and so many members voted for fell apart like we all thought it would and the only scheduled cuts that were supposed to take place we just suspended them five days ago in the fiscal cliff deal. we have yet to cut one dime from the last debt ceiling agreement and now here it is time to do it again. we got to stop the madness. this is the 18-year-old kid on the credit card and they maxed out the credit card. instead of cutting it up and putting them on a budget barack obama says give us a new credit card and by the way, harry reid you don't have to pass a budget in three years. this is crazy. >> would you support this year letting the debt ceiling deadline last? >> what i won't support is not dealing with the problem. americans sent us here to deal with the problem. the way this town works this fiscal cliff deal
to be greeted over confrontations with the debt ceiling. the debt ceiling is the legal limit on the nation's borrowing. in his weekly address, the president says he's taking a hard line on the issue. >> one ning i will not compromise over is whether or not congress should pay the tab for a bill they have already racked up. if congress refuses to kbif the united states its ability to pay its bill on top, the consequences could be catastrophic. last time congress threatened this course of action, our economy suffered for it. our families and our businesses can not afford that dangerous game again. >> on the first day of the new congress, lawmakers introduced nearly a dozen bills related to gun violence. they come in the wake of the connecticut school shooting and promises from president obama to take concrete action to avoid another tragedy. >> reporter: as students at sandy hook elementary return to class, former congresswoman gabrielle giffords, nearly killed in a mass shooting two years ago visited newtown, connecticut. and on capitol hill, lawmakers arrived to begin a new session of cong
the debt ceiling off the table. we have other power to use. let's get rid of that issue right now. that would be great for the economy because there would be some certainty that we're not going down this crazy -- >> i think if mcconnell had said that this morning, the markets would have gone up 200 points. >> newt gingrich and i probably disagree radically on what needs to be done, because i think we need more revenue than we got in this deal. but the other thing is we forget how much we have already done. there has been one deal after another after another that has cut spending very significantly. and that's why to say it's now only about spending and no more revenue on the table is just a big mistake. we have cut a lot. >> you would get broad widespread agreement if the revenue argument was, as simpson-bowles have suggested, a vast simplification of the tax code. this latest deal complicated the tax code. continued corporate welfare. simplify the tax code. close the hoop holes, lower the rates, you would get broad agreement. unfortunately, that has never been part of the deal. >
back with you later. >>> let's get back to the issue of raising the nation's debt limit. lindsey graham pretty much stated the republican position today. >> if you raise the debt ceiling by a dollar you should cut spending by a dollar that is the way to go forward. >> president obama insists he will not compromise raising the debt ceiling and said any future efforts to reduce the deficit must include a combination of higher revenues and spending cuts. joining me to talk about it jake sherman. senior editor for the new republic. noam wrote a book called "the escape artist." the president has declared that he will not negotiate over whether to raise the debt limit. why don't you believe him? >> well, i don't believe him for sort of practical reasons and partly for the history of his negotiating style. the practical reason is we have a couple of things coming up that he is clearly going to negotiate over, one of which is the sequester, the automatic spending cuts that they delayed for two months when they did the fiscal cliff deal. that is going to expire late february and early march. it
Search Results 0 to 14 of about 15 (some duplicates have been removed)